Justification Memo Deposit Insurance Messaging Survey

Federal Deposit Insurance Corporation

550 17th Street NW, Washington, D.C. 20429-9990

550 17th Street NW, Washington, D.C. 20429-9990

June 8, 2023

 

Memorandum to:        William E. Bestani

                                    Policy Analyst 

                                    Office of Information and Regulatory Affairs

                                    Office of Management and Budget

 

From:                Manny Cabeza

Regulatory Counsel

                                    Federal Deposit Insurance Corporation

Legal Division

 

RE: “FDIC Deposit Insurance Education Campaign: Message Testing Survey.”

Under its generic clearance entitled, “Information Collection for Qualitative Research” (3064-0198), the FDIC hereby submits for OMB review a questionnaire entitled “FDIC Deposit Insurance Education Campaign: Message Testing Survey.”

The purpose is to better understand current awareness of deposit insurance and its applicability to current financial products. These insights will help determine outreach priorities and guide the development of communications materials that help the public make more informed financial decisions, including the consideration of deposit insurance.

The online survey will take approximately 10 minutes to complete. The goal is to survey approximately 1,000 respondents. The survey is to be completed by adults residing in the United States. Study participants are recruited using online panels where consumers may opt-in to participate. The survey invitation to the online panels generally yields 3,000 responses, of which 1,000 complete surveys based on demographic quotas averaging a 30% participation rate. The survey will remain anonymous. No personally identifiable information (PII) will be associated with individual responses. The results will not be publicly disseminated.

Estimated burden:

Survey

Annual Estimated Number of Respondents (Survey): 1,000

Estimated Time per Response (Survey): 10 minutes

Total Estimated Annual Burden (Survey): 167 hours

If you have any questions, please let me know. Thank you for your consideration.